Discovery of New North Slope Oil Highlights System Working

House Republicans Will Continue to Support and Encourage Discoveries Like Horseshoe

Thursday March 9, 2017, Juneau, Alaska – Alaska House Republicans applaud the historic discovery of oil on Alaska’s North Slope just announced this morning by Armstrong Oil and Gas and its partner company Repsol. The Horseshoe discovery is about 23 miles from the Pikka find and combined there’s early estimates the two could put 400,000 barrels of oil in the pipeline at peak production.

“Not only will jobs be created, both directly and indirectly, but with these types of discoveries we can allow our current oil and gas tax system to provide benefits to the state,” says Representative David Talerico (R-Healy) who is a member of the House Resources Committee. “The dominant message we’re hearing from Alaskans during public testimony is do not change the current system.”

The House Resources Committee Democratic Co-Chairs are looking at a bill that would discourage investment by increasing taxes. Alaska voters shared the direction they wanted to see the state go with the passage of SB21.

“We need to allow the structure that is in place to continue working,” says Rep. George Rauscher (R-Sutton) who worked on the North Slope and has firsthand experience with the positive impacts of its development.

Representative’s Chris Birch (R-Anchorage) and DeLena Johnson (R-Palmer) agree this discovery is great news and only highlights the positive economic structure that was put into place not long ago.

Alaska House Republicans look forward to hearing more about the discovery of Horseshoe and additional oil finds to come.